Canada is not normally a country known for cryptocurrency and basketball. However, the latest development is capable of changing that. The Canadian Elite Basketball League (CEBL) becomes the first professional sports league in North America to adopt Bitcoin (BTC) as a payment method for player salaries.
The move is part of a league partnership with Canadian crypto platform Bitbuy, which will process the transactions.
CEBL CEO Mike Morreale said:
Players Can Prefer Bitcoin
With this decision, players will allow the option to accept some of their salary in Bitcoin. BitBuy will then work with the league to convert Canadian dollars to Bitcoin and payments will be forwarded to players’ wallets. BitBuy will also be the league sponsor.
The adoption of cryptocurrencies in the sports industry continues to increase.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.